Strong government support and Rapid Agricultural Sector Growth has become the Key Drivers for Tractor Industry Growth in India: Ken Research

India News

Key Findings
• Exports of Tractors have hit record highs after facing a bump due to Pandemic with 10,500 unit clocking in December 2020.

• According to Tractor & Mechanisation Association of India, there has been an increase of 43% in the sale of Tractors year-on-year basis.

Emerging Trends in Tractor Market: Various Indian manufacturers are now focusing on European countries and trying to establish their presence there as well and compete with American and European brands like Massey Ferguson and John Deere.

Sonalika, one of the major Indian manufacturers has seen a growth of 50% during the year in European markets. It has sold around 20,000 tractors in Europe during the year 2020. There has been an increase in the agri-produce and push for reducing the cost while increasing the production in Indian as well African. This presents a great opportunity for the Indian manufacturers. With an increase in the scale of production, there is a rise in the demand for Harvestors as well. With increase in the expanse of farm mechanisation, even small scale farmers and producers are employing machinery to ease out the process and provide support. This explains the enhanced demand for the power tillers.

Government Initiatives to Tractor Industry: In the wake of pandemic, government has launched various initiatives to promote manufacturing in India and provide support to rural as well as agricultural industry in the country. Prime Minister Narendra Modi’s government has announced that they will spend around $20 billion to provide support to farmers. They have also highlighted the need to diversify the rural employment scenario from being focussed on agriculture to other trades as well; the plans to roll out the policy for the same are in the place. This diversification will reduce the dependence of rural youth on agriculture and the investment roll out will lead to investment in mechanisation of farms. This will lead to increase in sales of Tractors in near future and will create a positive trend for the coming years.

For More Information on the research report, refer to below link:-
https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/india-tractor-market-outlook-to-2025/472830-104.html

Impact of Covid-19: The sudden onset of pandemic has dampened the sale of Tractors and its export in the initial months of the wave of infectious disease. In the upcoming months after the lockdown was lifted and the factories were allowed to function, the sales were able to move back to normal. The numbers were able to rebound back to healthy trends and function. Supply Chains faced major disruptions and it became hard for the manufacturers to locate containers for exporting the units. But this resolved by late November in 2020 and Indian Tractor Industry was able to reach record sales for the years. Indian Tractors are affordable and durable which helped them position themselves more attractively in the International Markets.

Analysts at Ken Research in their latest publication “India Tractor and Harvestor Market Outlook to 2025-By Vehicle Category (Agriculture and Commercial), By State, By Region (North, West, East and South)” observed that the Indian Tractor market has a great potential to grow supported by numerous government initiatives. Tractors offer cost effective services and support for scaling agricultural produce. Farm mechanization is the need for the hour in India where cost of producing food grains is very high and prices in markets for the same face immense fluctuations.

Key Segments Covered:-
By Vehicle Category
Agricultural
Commercial

Registration by Region
North
East
West
South

Registration by State
Tractor Makers Covered:-
Mahindra & Mahindra Limited (Tractor)
Mahindra & Mahindra Limited (Swaraj Division)
International Tractors Limited
Tafe Limited
Escorts Limited (Agri Machinery Group)
John Deere India Pvt Ltd (Tractor Devision)
Eicher Tractors
Cnh Industrial (India) Pvt Ltd
Kubota Agricultural Machinery India Pvt. Ltd.
V.S.T. Tillers Tractors Limited
Force Motors Limited, A Firodia Enterprise
Captain Tractors Pvt. Ltd.
Indo Farm Equipment Limited
Vani Electric Vehicles Pvt Ltd

Harvestor Makers Covered:-
John Deere India Pvt Ltd
Manku Agro Tech Pvt Ltd
Kartar Agro Industries Pvt Ltd
Preet Agro Industries Pvt Ltd
Mahindra & Mahindra Limited
Malkit Agro Tech Pvt. Ltd
Guru Nanak AgriEngg Works
Dasmesh Pvt. Ltd
Cnh Industrial (India) Pvt Ltd
K.S. Agrotech Pvt Ltd
Surindera Agro Industries
K.S. Agricultural Industries Pvt. Ltd
Hind Agro Industries
Hira Agro Industries
Claas India P Ltd
Sonalika Industries
New Hind Agro Pvt Ltd
Punjab Agro Implements Industries

Key Target Audience:-
Tractor OEMs
Consultancy Companies
Industry Associations
Regulatory Bodies

Time Period Captured in the Report:-
Historical Period – 2016-2020
Forecast Period – 2020-2025
Key Topics Covered in the Report:-
India Tractor Registration Volume
India Tractor Type (in Units)
India Tractor Vehicle Category (in Units)
India Tractor Vehicle Registration by Region
India Tractor Vehicle Registration by State
India Tractor Maker Market Share
India Tractor Registration Volume
India Tractor Type (in Units)
India Tractor Vehicle Category (in Units)
India Tractor Vehicle Registration by Region
India Tractor Vehicle Registration by State
India Tractor Maker Market Share
Future Market Size and Segmentations, 2020-2025F

For More Information on the research report, refer to below link:-
https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/india-tractor-market-outlook-to-2025/472830-104.html

Related Reports:-
https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/myanmar-agriculture-machinery-market-outlook-to-2025/427146-104.html

https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/vietnam-agricultural-machinery-market-outlook-to-2025/414449-104.html

https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/indonesia-agriculture-equipment-market-outlook-to-2025/409962-104.html

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies. We provide business intelligence and operational advisory across 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies. Some of top consulting companies and Market leaders seek our intelligence to identify new revenue streams, customer/ vendor paradigm and pain points and due diligence on competition.

We currently cater to 300+ sectors with 150,000+ research repository across 196+ countries serving 1000+ clients and have partnered with almost 25+ content aggregators.

This release was published on openPR.